Tata Group Gigafactory Investment

Margaret Ferrier Excerpts

Thursday 20th July 2023 Commons Chamber

[Ms Ghani]

As a result of Putin’s invasion of Ukraine and high energy prices, we introduced substantial programmes to give energy-intensive firms the support that they needed. The next phase of that is the energy supercharger, which—as the hon. Lady will know—the Secretary of State for Energy Security and Net Zero has been talking about. We know that energy prices will fall in the near future, and that there will be a change in the mix of energy costs.

Tata came to the UK not only because it is, obviously, the best place in which to build a gigafactory and has a fantastic skillset, but because we could offer competitive energy prices. We have had conversations about that with a number of firms and investors. When energy prices were high and we were dealing with energy-intensive industries, we made sure that we provided the necessary support to protect those firms and their employees.

[Margaret Ferrier (Rutherglen and Hamilton West) (Ind)]

I thank the Minister for her statement, and welcome Tata’s investment. The Adam Smith Institute has said that securing sustainable foreign direct investment is fantastic, but that the UK should also be introducing supply-side reforms so that we can continue to champion carbon reduction on a global scale. In the light of that, what steps are Ministers taking to introduce supply-side reforms?

[Ms Ghani]

I am working with most industry representatives to establish what we can do about the supply side, not just through reforms but by giving them the assurance, accessibility and resilience that they need to get their products into the country and continue manufacturing, whether in the chemical or the aviation sector. We are working closely with industry, and I hope to present a supply-side input strategy by the autumn.